Bull trap – rally to 36K
Bitcoin / U.S. dollar BITSTAMP:BTCUSD
An inverted head and shoulders formation is just finishing forming on the hourly chart. As a result, I think Bitcoin will soon start to climb all the way up to around the 36K level. Most likely, this upward movement will form a rising wedge with a target below the 28.5K level. This will trigger further drastic declines.
The above analysis is just my subjective opinion. Do not take it as financial advice.
